Emerging market growth slowed slightly in Q2 2012

Emerging market growth slowed slightly in Q2 2012 as a solid performance from the services sector was offset by only modest growth in manufacturing, the HSBC Emerging Markets Index (EMI; pdf) shows. The EMI slipped to 53.0, from 53.6 in Q1. The service sector is still expanding at a moderate rate, although has slowed from the pace seen this time last year. The level of activity in the manufacturing sector is broadly stable as demand from Western economies remains lacklustre.

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